Eurozone inflation hits 4% in October as energy prices soar

Business Nov 04, 2026

Inflation across the eurozone just hit 4% in October, the biggest spike in three years.

The main culprit? Soaring energy prices, which jumped even higher in October.

This surge is a reminder of how sensitive Europe is to global energy shocks, especially with current geopolitical tensions.

ECB likely to hike in December

With inflation now way above the European Central Bank's 2% target everywhere in the eurozone, a December interest rate hike looks likely (markets put it at a 71.8% chance).

But there's a twist: not all countries are feeling the pinch equally: Lithuania's inflation is at 6.1%, while Malta sits at just 2.3%.